The full analysis of the logistics real estate pattern: the rivers and lakes behind the "one super multi-strong"

The development of logistics real estate in China is in the ascendant, but the market share has been relatively concentrated. The two strategies of light assets and heavy assets in the industry are reflected in the ProLogis and Wanwei of Vanke. Set up a private equity fund, and then sell the project to the fund company after completion of the project construction, and then carry out light asset operations.

Through such REITs (Real Estate Trust Investment Fund) model, ProLogis reduced the time for funds to be returned from ten years to one year, increased the project turnover rate, solved the problem of capital accumulation caused by long-term holding of properties, and achieved high turnover. High-return and high-leverage light asset model. In this financial era, where mobility is extremely important, this model of high-speed and light operation is very effective.

The concept of logistics real estate was first proposed and practiced in the United States in the 1980s. It is a modern logistics facility needed to invest in and build business operations in the right place according to the needs of logistics enterprise customers. Logistics real estate generally includes storage facilities such as various logistics centers, logistics parks, distribution centers, and logistics industrial parks.

Market supply and demand gap is still huge

On the whole, the market and enterprises have developed rapidly, but they still fail to make up for the huge gap between China's logistics real estate industry and developed countries. As of the end of 2017, China's total storage area is about 553 million square meters, but the per capita storage area is only 0.4 square meters, while Japan's per capita storage area is 4.0 square meters, a difference of 10 times. Of this 0.4 square meters per capita, only 0.1 square meters is the area with information management and modern logistics storage, and the remaining 0.3 square meters includes old facilities such as old warehouses. According to the opinion index, about 70% of China's existing logistics and storage facilities were built before the 1990s. This not only illustrates the huge gap in China's current logistics and warehousing, but also means that China's logistics real estate industry market has great development prospects.